The Summary of the Flows of Goods,services,assets,and Currency in and Out

question 49

Multiple Choice

The summary of the flows of goods,services,assets,and currency in and out of a country in a particular year is

• A)the balance of income statement.
• B)the balance of payments.
• C)the balance of trade.
• D)the trade deficit.
• E)the capital account.

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Definitions:

Property Insurance

Coverage that provides financial reimbursement to the owner or renter of a structure and its contents in the event of damage or theft.

Intangible Property

Assets that cannot be physically touched or held, such as intellectual property, goodwill, and copyrights.

Physical Form

The tangible aspect or embodiment of something, usually referring to documents or goods that have a material existence.

Repairs

The action of fixing or restoring something that is broken, damaged, or not working properly.